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Gold Demand Seen Expanding 15% by HSBC on Asia-to-ETP Buying

from Bloomberg:

Gold demand will rebound in 2015 as bullion consumption in Asia increases and investors return to exchange-traded products backed by the metal, according to HSBC Securities (USA) Inc.

Global demand may rise 15 percent to 4,127 metric tons this year, analysts James Steel and Howard Wen wrote in a report dated Jan. 14. Consumption reached a record 4,582.3 tons in 2011, when prices climbed to a peak of $1,921.17 an ounce, according to data from the World Gold Council.

Gold last year posted the first back-to-back annual drop since 2000 as assets in bullion-backed ETPs contracted, the dollar advanced and U.S. equities surged. An economic slowdown in China and import restrictions in India also hurt gold purchases by the world’s largest consumers in 2014. Rising Asian demand for gold may help bullion prices to recover after testing new lows this year, Barclays Plc said in report this week.

Read More @ Bloomberg.com

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